The Strait of Hormuz was opened today. I was waiting for price dump on Bitcoin price chart. After this news dropped, Bitcoin price broke up great resistances.
Here you can see daily chart of Bitcoin price. Bitcoin price was in an ascending channel since 60K. I was waiting for breaking down this ascending channel. After The Strait of Hormuz opened, all of stock markets pumped as Bitcoin. Brent price went down. It was unexpected. Bitcoin price broke up great resistances. We may see mini bullish trend on crypto and stock markets.
Here you can see the indicator on daily chart of Bitcoin price. There was great downtrend line on RSI Indicator. It was tested 4 times before to break up and Finally It is broken up today with the Strait of Hormuz news.
Even Fisher Indicator was on the top, Even MACD Indicator was close to break down mini uptrend lines, Bitcoin price broke up great downtrend line on RSI Indicator.
This bearish setup ended. We need to see the new pattern on Bitcoin price chart.
After this news and market conditions, I think we may see mini uptrend until the middle of May. We may see mini bullish trend for a month.
The top line of this ascending channel is another resistance for Bitcoin price.
We will see..